Compliance

An expert panel hosted by CII discussed the risks of investing in China and what it means for retirement plan investment selection.

The new members represent accounting, insurance and the interests of employers, employees and the general public.

The SEC chair explained that more market actors are using climate and greenhouse gas information in investment decision making, and the SEC is trying to standardize their disclosures.

The bill, if passed, would repeal reductions in Social Security benefits paid to certain public pensioners.

The proposal states that plan administrators need to use retirement plan forfeitures within 12 months.

A resolution to nullify the rule to allow for ESG factors in retirement plan investments will now go to Biden’s desk, where he has promised a veto.

The resolution next moves to the Democratic-majority Senate.

Biden tapped the deputy secretary of labor to take over as head of the DOL, with a Senate confirmation hearing to come.

Effective disclosure, SECURE 2.0 and ESG are at the top of EBSA’s short-term agenda, according to EBSA Head Lisa Gomez.

The insured Retirement Institute wants regulatory and legislative changes in order to drive greater in-plan use of guaranteed lifetime income products. 

The bill, if passed, would amend ERISA and remove the legal basis for challenging the use of ESG factors in retirement plan investing.

Optional provisions could spur benefits arms race among employers.

The Department of Labor has published the Form 5500 changes for this year.

A second court must now determine if ESG can be lawfully considered in retirement fiduciary decisionmaking.

The DOL is expected to appeal a district court’s decision, which could result in the rule being re-instated.

The lawsuit filed by Martone Construction claims its retirement plan providers ignored requested investment trades and claimed that trading was limited to only Wednesdays.  

A federal district court judge has widened the exemption to include an N.J. hospital in a lawsuit remanded back to the district court level by the Supreme Court.

Multiemployer pension plans from Baltimore, New York, Puerto Rico and Ohio received a total of $26.7 million of additional assistance.

The Republican senator also argued that the DOL should not be dictating what investments may be offered through the self-directed brokerage window in retirement plans.

The bill, proposed this week, aims to make Social Security solvent for 75 years and to increase benefits, especially for lower-income workers and retirees.